Day: May 29, 2022

6.1 Introduction Ethics are moral principle and values which govern our beliefs, actions and decisions. They are the rule or guidance of conduct by which we aim to live. Every profession issues its ethical codes and the integrity of any Read More …

5.1 Elements of a Physical Distribution Physical distribution is the set of activities concerned with efficient movement of finished goods from the end of the production operation to the consumer. Physical distribution takes place within numerous wholesaling and retailing distribution Read More …

4.1 Introduction Materials held by the organization in its stores or otherwise constitute its stock. In the ideal would stockholding would not be necessary. Demand and supply would be synchronized and materials would flow o the point of use at Read More …

3.1 Introduction A source is a place from which something comes from or is obtained from. Sourcing is therefore a process of determination and selection of places/firms from with to acquire materials or services. 3. 2 Sourcing levels Strategic sourcing Read More …

2.0 Introduction A typical purchasing cycle consists of the following steps: 1. Recognition of the need 2. Definition and description of the need 3. Transmission of the need 4. Receipt and inspection 5. Invoice audit and completion of the order Read More …